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FORM OF NOTICE OF INTENT TO ADOPT INDUSTRIAL REVENUE BOND ORDINANCE FOR PUBLICATION SANDOVAL COUNTY, NEW MEXICO NOTICE OF INTENT TO ADOPT INDUSTRIAL REVENUE BOND ORDINANCE Notice is hereby given of the title and general subject matter contained in an ordinance which the Board of County Commissioners of Sandoval County, New Mexico, the governing body of the County, intends to adopt at a meeting on June 27, 2019 at the hour of 6:00 pm at County Commission Chambers, 1500 Idalia Road, Third Floor, Bernalillo, NM 87004, New Mexico relating to the authorization, issuance and sale by Sandoval County, New Mexico of its industrial revenue bonds. The title of the proposed Ordinance is: AUTHORIZING THE ISSUANCE AND SALE OF SANDOVAL COUNTY, NEW MEXICO TAXABLE INDUSTRIAL REVENUE BONDS (NMRD DATA CENTER III, LLC) SERIES 2019 IN THE MAXIMUM PRINCIPAL AMOUNT OF $70,000,000 TO PROVIDE FUNDS TO FINANCE THE ACQUISITION, CONSTRUCTION AND EQUIPPING OF A SOLAR ENERGY GENERATING FACILITY; AUTHORIZING THE EXECUTION AND DELIVERY OF AN INDENTURE, A LEASE AGREEMENT, A BOND PURCHASE AGREEMENT, BOND, AND OTHER DOCUMENTS IN CONNECTION WITH THE ISSUANCE OF THE BONDS AND THE PROJECT; MAKING CERTAIN DETERMINATIONS AND FINDINGS RELATING TO THE BOND AND THE PROJECT; RATIFYING CERTAIN ACTIONS TAKEN PREVIOUSLY; AND REPEALING ALL ACTIONS INCONSISTENT WITH THIS ORDINANCE. As proposed in the Ordinance: (1) the Bonds will be issued under the authority of the New Mexico County Industrial Revenue Bond Act, Chapter 4, Article 59, NMSA 1978, as amended; (2) the proceeds of the Bonds will finance the acquisition of land and equipment for a solar power generation facility in Sandoval County, New Mexico (the "Project") for the use by NMRD Data Center III, LLC (the "Company"); and (3) the Project will be leased to the Company. Under the terms of a proposed Lease Agreement (the "Lease") between the County and the Company, the Company will be obligated to pay rent for the Project sufficient to pay, when due, the principal of, interest on and redemption price, if any, of the Bonds and to make certain other payments as provided in the Lease. The Bonds will be issued pursuant to an Indenture (the "Indenture") among the County, the bond purchaser and a depositary. The Bonds will be sold to a bond purchaser pursuant to the terms of a proposed Bond Purchase Agreement. THE PRINCIPAL OF, INTEREST ON AND REDEMPTION PRICE OF THE BONDS WILL NEVER CONSTITUTE AN INDEBTEDNESS OF THE COUNTY WITHIN THE MEANING OF ANY PROVISION OR LIMITATION OF THE CONSTITUTION OR STATUTES OF THE STATE OF NEW MEXICO. THE BONDS WILL NEVER CONSTITUTE NOR GIVE RISE TO A PECUNIARY LIABILITY OF THE COUNTY OR A CHARGE AGAINST ITS GENERAL CREDIT OR TAXING POWERS. The Bonds will mature, bear interest, be subject to prior redemption and contain other terms and provisions all in accordance with the Indenture and the Ordinance. A copy of the Ordinance in draft form is on file in the office of the County Clerk at 1500 Idalia Rd, Bernalillo, New Mexico 87004 and will be available for inspection during normal business hours. All members of the public are invited to attend the hearing, and will be provided opportunity to ask questions about, and to express their opinions concerning, the proposed Ordinance. This notice is given pursuant to Section 4-37-7 NMSA 1978. Journal: June 12, 2019 Left-red    Print Legal   Email-red   Published on: Wed June 12, 2019